Grabal Alok updates on FCCB issue

With reference to the earlier announcement dated December 22, 2006 regarding approval provided by the members of the Company to issue Unsecured Foreign Currency Convertible Bonds (FCCBs) upto USD 40 million, Grabal Alok Impex Ltd has announced that the Company has concluded the aforesaid FCCB issue having raised USD 25 million comprising of USD 5 million - Zero Coupon convertible bonds due 2012 (Series A) to be converted within 41 days of closing and USD 20 million 1% Convertible bonds due 2012 (Series B) for redemption. The said FCCBs would be listed on the Singapore Stock Exchange.

Source : Equity Bulls

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